United Rentals Announces Full Redemption of Convertible Securities and Debentures

United Rentals this week announced that its subsidiary has given notice of its intention to redeem $14,681,750 principal amount, representing all of the remaining outstanding 6 ½-percent Convertible Quarterly Income Preferred Securities due Aug. 1, 2028, on June 13, 2013. The Trust will redeem the Preferred Securities with proceeds from the redemption by URI of all of its remaining outstanding 6½-percent Convertible Subordinated Debentures due Aug. 1.

URI has also given notice of its intention to redeem $14,681,750 principal amount, representing all of the remaining outstanding Debentures, on June 13. The Preferred Securities will be redeemed at a redemption price equal to 100 percent of the principal amount of the Preferred Securities redeemed, plus accrued and unpaid distributions to, but excluding the redemption date.

As announced by URI on March 8, the conversion expiration date was set at April 8. As a result, the Preferred Securities are no longer convertible into Debentures or common stock and the Debentures are no longer convertible into common stock.

The Bank of New York Mellon, the trustee for the Preferred Securities, is distributing a Notice of Redemption to all registered holders of the Preferred Securities on May 13. Copies of such Notice of Redemption and additional information relating to the procedure for redemption and/or conversion of the Preferred Securities may be obtained from The Bank of New York Mellon Bondholder Relations by calling (800) 254-2826.

United Rentals is headquartered in Greenwich, Conn.